China implements new schemes for banks to support small businesses

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The People’s Bank of China (PBOC) will provide capital to qualified banking institutions to spur them to extend more loans to small and micro enterprises under a scheme that will run through June 2023, according to a statement posted on its website.

The measures had been announced by the State Council, or cabinet, on Dec. 15. read more

Highlights

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  • Authorities are also rolling over a 400-billion-yuan relending quota that supports inclusive financing to small businesses.

Reporting by Ryan Woo

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